The A-share market opened with a big rise, while the crypto market fell across the board. The Shanghai Composite Index is approaching 3,500 points. BTC retreated to below 63k. I have been tracking market trends during the National Day holiday. Friends who have been paying attention to the internal reference in recent days should have known that USDT has continued to have a negative premium and fell to 6.91 this morning. Battle reports can deceive people, but battle lines cannot. This clearly tells us that funds - either deposited funds in the crypto market, or other US dollar funds through crypto - are continuing to flow into the A-share market, cheering and joining the "blood-sucking market" of the A-share market.
Comparison of long and short data of Bitcoin network today
No matter how the market goes up and down, long positions hold 53.98% and short positions hold 46.02%. The market is still very bullish on the second half of the year. There were not many liquidation data last night. In 24 hours, 207 million long positions were liquidated, while only 67 million short positions were liquidated. The data differed by 3 times. It seems that the market will continue to wash back and forth in the next week, washing out long positions and tempting bulls to turn short. Only after it is clean will it really start to explode.
Bull market pullbacks! This is a retracement, an opportunity to add to positions when prices fall, and a time to drive out speculators.
Don’t worry about BTC being temporarily sucked by Big A. The engine has quietly switched. It used to burn oil (USD assets), but now it burns electricity (RMB assets). BTC is the most advanced new power technology of gasoline-electric hybrid and ultra-long range. Why does BTC behave like a risky asset in short cycles? Because the source of power that drives its rise is often risky speculative funds in the stock market. After the short-term peak and profit exit, the next stop is the best choice for rotation. So why is BTC not significantly correlated with the stock market in the long term? Because the stock market is geographical, and BTC is international. China and the United States often adjust counter-cyclically. When the west rises, Western forces push a wave of BTC prices; when the east rises, Eastern forces push a wave of BTC prices. Petroleum and electric power switches repeatedly. From a macro perspective, BTC is similar to any specific risk market. There is no significant correlation.
It is normal for BTC to be temporarily weak during the engine switching phase. Once the engine switching is completed, the surging power will trigger an incredible market.
Either early letter
Arrange your positions before the market moves and wait for the flowers to bloom, or act decisively and get on board when the right signal appears.
Either don't believe it
After a wave of enthusiasm has passed, you can reconsider entering the market at a low level during the bear market cooling-off period. The worst situation is that when an empty position faces a surge, you hesitate and wait until the market reaches its peak, then you grit your teeth and stamp your feet, rush in with a full position, take over at a high position, get stuck and stand guard, and are left with only a mess in the wind.
At this position, there is already a probability of more than 60% that sui will be the dark horse of this market. If it stays at this position for more than 3 days, the probability will increase to 70% or even more than 80%.
Fan tokens generally rose: OG soared by more than 114% in a single day, ALPINE soared by 36%... Is the horn of the copycat season sounding?
Football club-related tokens surged, and other fan tokens that performed well included:
Young Boys Fan Token ($YBO) – The fan token of Swiss football club Young Boys, $YBO has risen 70.5% in the past 24 hours and is currently trading at $0.2874.
Santos FC Fan Token ($SANTOS) – The fan token of Brazilian football club Santos FC, $SANTOS has risen 38.9% in the past 24 hours and is currently trading at $4.02.
Lazio Fan Token ($LAZIO) – The fan token of Italian football club Lazio, $LAZIO has risen 31.4% in the past 24 hours and is currently trading at $1.77.
FC Porto ($PORTO) – The fan token of Portuguese football club FC Porto, $PORTO is up 19.8% in the past 24 hours and is currently trading at $1.69.
The price and trading volume of these fan tokens are affected by the progress of the event, the performance of the team, the support of fans, and the hype of speculators. We can see that the market value of these tokens is not large and the fluctuations may be more severe. Please grasp the progress of relevant events and strictly control risks before investing.
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